Caledonia Investments PLC
18 October 2000
CALEDONIA INVESTMENTS PLC
Stake in new Technology Fund Management Company
Caledonia Investments plc, the diversified trading and investment company,
today announces that it has reached agreement in principle to become a 20%
shareholder in the new fund management company being established by Brian
Ashford-Russell, Tim Woolley and David Magliocco.
The new company intends to establish a specialist fund management business,
initially focused on the technology sector. The company will limit its funds
under management with the intention of maximising returns for clients. The
company is expected to be operational early next year.
Brian Ashford-Russell, Tim Woolley and David Magliocco are leaving Henderson
Investors at the end of this year, after successfully managing technology
funds for many years.
Peter Buckley, Chairman and Chief Executive of Caledonia Investments said:
'We are delighted to be joining forces with Brian Ashford-Russell, Tim
Woolley and David Magliocco. Caledonia has a long-standing record of
successful investment in the financial sector and our involvement with this
new venture underlines our philosophy of investing alongside proven and
experienced management. This investment will also further Caledonia's
commitment to the technology sector.
Enquiries Caledonia Investments plc 020 7481 4343
Peter Buckley, Chairman and Chief Executive
Citigate Dewe Rogerson 020 7638 9571